In the viewpoint of Yoo & Donthu (2001) customer-based brand equity (CBBE) is a manner of evaluating the brand value in the mind of customers. It is noteworthy that brand equity can enhance profitability in small-scale and large companies by addressing gaps in customers’ comprehension about a brand and providing them assurances and the CBBE model centres that worth in customers mind. It induces companies to define their brands as per a definite hierarchy of qualitative, or general, customer impressions.
As per Washburn & Plank (2002) a strong brand comprises of four basic steps, they are creating brand identity by setting width and depth of brand awareness, generating brand meaning by potent, constructive and creative brand associations, drawing constructive brand responses and building brand relationships with customers. However, attaining these steps comprises of developing six brand building blocks, brand performance, salience, imagery, judgments, meaning, feelings, and character (Washburn & Plank, 2002). The most worthy one i.e. brand resonance takes place when all the other brand building blocks are set up and with right brand resonance customers demonstrate a superior brand loyalty in a manner that they look for means to interrelate with the brand and also share their satisfaction with others (Vázquez, Río & Iglesias, 2002).
In a nutshell, it can be mentioned that CBBE model offers a measure through which brands can assess their development in brand building attempts and can also guide for mating research plans. The concept of Brand Equity Model is simple, i.e. for the purpose of building a potent brand, it is necessary for organizations to shape the way consumers consider and feel for their brand (Keller, 1993). Organizations have to create the correct form of experiences around the brand, so that consumers get definite constructive opinions, outlook, attitudes, views and insights about it. It is imperative that organizations with powerful brand equity induce their customers to purchase more from them as compared to their competitors. They also compel their customers to suggest the product to their known, and generate more loyal customers, and these way organizations have the less likelihood to lose customers to their competitors (Swait, 1993).